Interview
How Dashlane Reached Nearly 10 Million Users with 105% Net Revenue Retention (Interview with CEO Emmanuel Schalit)
- Interviewee
- Emmanuel SchalitCEO
Company Metrics at Interview Time
Total Users (2018)
Nearly 10,000,000
New Free Users (2018)
About 250,000 per month
Net Revenue Retention (2018)
105%
Revenue Growth (2017)
More than 80%
Equity Raised
$54M across three rounds
Historical Snapshot
These numbers were reported by Emmanuel Schalit during the interview and are a historical snapshot, not current figures. See Dashlane’s current numbers.
Key Takeaways
- 01Dashlane was a few days away from passing 10,000,000 total users at interview time
- 02The company was adding about 250,000 new free users per month, split roughly fifty-fifty between mobile and desktop
- 03Annual net revenue retention was 105%, driven by a long tail of free-to-paid conversions rather than upsell
- 04Revenue grew by more than 80% in 2017, and Schalit said it could grow by an even higher percentage in 2018
- 05Dashlane raised $54 million in equity across three rounds and supplemented growth with debt financing
- 06CAC payback period was significantly less than a year
- 07The sales team consisted of just two account executives and one customer success manager
- 08Key onboarding signals for long-term retention are adding 10 or more passwords and installing Dashlane on two devices
- 09Pricing was $3 per month on the individual side and more like $4 on the business side
- 10The company was advertising on national TV in the US and spending below $1 million a month on paid acquisition, closer to $1 million than $500,000, with that number quickly growing
Company Metrics at Time of Interview
| Metric | Value | Source |
|---|---|---|
| Monthly Revenue (2018) | Very close to $2M per month (nearly a $24M run rate) | Interview, 2018 |
| Total Users (2018) | Nearly 10,000,000 | Interview, 2018 |
| New Free Users (2018) | About 250,000 per month | Interview, 2018 |
| Net Revenue Retention (2018) | 105% | Interview, 2018 |
| Revenue Growth (2017) | More than 80% | Interview, 2018 |
| Pricing (Individual) (2018) | $3 per month per seat | Interview, 2018 |
| CAC Payback Period (2018) | Significantly less than a year | Interview, 2018 |
| Equity Raised | $54M across three rounds | Interview, 2018 |
| Sales Reps (AEs) (2018) | 2 | Interview, 2018 |
| Customer Success Managers (2018) | 1 | Interview, 2018 |
| Team Size (all in) (2018) | Grown by about 25 from about 130 seven months earlier; could be close to 180 to 200 by end of year | Interview, 2018 |
| Mobile vs Desktop New Users (2018) | About 50% mobile, 50% desktop | Interview, 2018 |
| Paid Acquisition Spend (2018) | Below $1M per month, closer to $1M than $500K | Interview, 2018 |
Growth Breakdown
Revenue
Emmanuel Schalit stated Dashlane was very close to $2 million per month in revenue at interview time, with overall revenue having grown by more than 80% in 2017. He indicated growth could be even higher in 2018, driven by macro tailwinds around GDPR and data privacy awareness.
Users and Customers
Dashlane was a few days away from passing 10 million total users, adding about 250,000 new free users per month split roughly fifty-fifty between mobile and desktop installs. A meaningful portion of those users had converted to paid subscriptions, with pricing at $3 per month on the individual side and more like $4 on the business side.
Team
At interview time the all-in team counted employees plus people who were not employees but worked exclusively for Dashlane on functions like user support and QA. Schalit said it had grown by about 25 from the roughly 130 of seven months earlier, that growth was now accelerating because Dashlane had raised new capital, and that the all-in number could be pretty close to 180 to 200 by the end of the year.
Funding and Profitability
Dashlane raised $54 million in equity across three rounds and had added debt financing on top of that, which Schalit described as more attractive given the company's short payback periods and predictable cash flows. He declined to disclose the debt amount or the lender, but said Dashlane negotiated really attractive terms because of the nature of its cash flow, and that none of them was tied in a hard way to revenues or covenants.
Growth Strategy
Long-Tail Free-to-Paid Conversion
Schalit credited a long tail of conversion as a key driver of net negative churn. Users who had been on the free plan since 2013 were converting to paid in 2018 due to events like GDPR and the Facebook-Cambridge Analytica scandal, meaning Dashlane added more people to paid cohorts each month than it lost to churn.
Onboarding to Drive Engagement
The team identified two leading indicators of long-term retention: adding 10 or more passwords quickly and installing Dashlane on two devices. A new mobile-first onboarding feature allowed users to connect their email inbox so Dashlane could identify all their accounts and import them directly, reducing friction.
National TV and Paid Acquisition
Dashlane began advertising on national TV in the US and was spending below $1 million a month on paid acquisition at interview time, closer to $1 million than $500,000, with that number quickly growing. Schalit framed this as necessary market education, since most people know the problem but do not know solutions exist.
B2B Land and Expand via Individual Users
Schalit described a flywheel where individual users bring Dashlane into their workplaces, eventually prompting companies to centralize and pay for a business subscription. A small focused sales team of two account executives handled larger accounts, while the bulk of business happened through self-serve.
Debt Financing for Capital-Efficient Growth
Rather than raising additional equity, Dashlane used debt to fund user acquisition, which Schalit said was more attractive given the company's short payback periods, high retention, and predictable cash flows. This approach avoided dilution and artificial valuation pressure.
Best Quotes
“We are very focused on getting revenue from the right place, which is from our users. Why? Because that allows us to be very transparent about our business model and to earn their trust. We make money because they pay us for the services we provide, not because we do anything with their data.”
“We are bigger now. I think, you know, we're getting closer to, very close actually to 2,000,000 a month.”
“Our revenue overall grew by more than 80% last year and could grow by even a higher percentage this year.”
“You could think about a 105.”
“Think about a quarter million”
“We have raised two types of capital. We have raised equity in the past. We did three rounds of equity for a total of 54,000,000. But we have a business now where essentially the use of capital is largely user acquisition. And because of the incredible retention characteristics we have, because of the high predictability of our cash flows, we are actually able to fund the business with debt, which is much more attractive from a cost of capital standpoint, from a dilution standpoint.”
“Significantly less than a year.”
“Well, given the cost of going to Mars, my target is closer to 2,000,000,000 than 500,000,000. So I need a bit more time.”
What Happened Next
At the time of this interview, Dashlane was approaching 10 million total users and very close to $2 million in monthly revenue, with strong retention metrics and a growing team. Emmanuel Schalit described the company as accelerating faster than anticipated, with no interest in selling. This page captures Dashlane as it stood during that conversation. Visit the Dashlane company profile on GetLatka for current figures.
View Dashlane’s current profile and metricsFull Transcript
Chapters
- 0:01Introduction and Background
- 0:28Why Password Management Over Mars
- 1:00Revenue Model and Business Overview
- 1:47Revenue Growth and Monthly Run Rate
- 3:30Churn, Retention and Net Revenue Retention
- 5:08Engagement Levers and Conversion Tactics
- 8:15New User Growth and Paid Acquisition Spend
- 9:40Equity Raised and Debt Financing Strategy
- 12:46Team Size, Sales Team, Land-and-Expand and Debt Terms
- 17:19M&A and LastPass Merger Question
- 19:16Famous Five Rapid Fire
Introduction and Background
Nathan Latka
00:01Hello everybody. My guest today is Emmanuel Schalit. He's the CEO of a company called Dashlane, the world's best password manager. He has over twenty years of management experience across the tech and media sectors. Before Dashlane, he was CEO of CBS Outdoor France, EVP of Universal Games, and the founder of c... And CEO of flipside.com. He began his career focused on navigation algorithms for the Mars Exploration Rover. Emmanuel, are you ready to take us to the top?
Emmanuel Schalit
00:27I am all the way to Mars.
Why Password Management Over Mars
Nathan Latka
00:28No offense, but I think like Mars exploration is a little bit cooler than password management. Why did you decrease your cool factor and go into password management?
Emmanuel Schalit
00:39Because I think at the end of the day, short term, I can have more impact on mankind by focusing on this.
Nathan Latka
00:46Good answer. Good answer. All right. So you came on back in October last year, 2017, told us a lot about the business. Give us a quick update. For those that did not hear that interview, what's the company do and what's your revenue model? How do you make money?
Revenue Model and Business Overview
Emmanuel Schalit
01:00So we are very focused on getting revenue from the right place, which is from our users. Why? Because that allows us to be very transparent about our business model and to earn their trust. We make money because they pay us for the services we provide, not because we do anything with their data.
Nathan Latka
01:20Yep.
Emmanuel Schalit
01:21And so we are, a few days away from, passing the 10,000,000 user milestone and, a large portion of these users are paying subscribers.
Nathan Latka
01:33Yep. Think you told, when you were last on the show, you told me you had about 500 folks, 500,000 folks minimum paying $3 a month minimum. And so minimum you're doing 1,500,000 a month at that point, but those were all minimum. So you could be way bigger.
Revenue Growth and Monthly Run Rate
Emmanuel Schalit
01:47We are bigger now. I think, you know, we're getting closer to,
01:53very close actually to 2,000,000 a month.
Nathan Latka
01:56Oh, great.
Emmanuel Schalit
01:57And continuing to grow. Our revenue overall grew by more than 80% last year and could grow by even a higher percentage this year.
Nathan Latka
02:08Sorry, you said over 80%?
Emmanuel Schalit
02:08Yes.
Nathan Latka
02:08So, I mean, if you're doing, if you're about to hit 24,000,000 in ARR, you're saying month, about a year ago in March 2017, were call it somewhere around $14,000,000 to $15,000,000?
Emmanuel Schalit
02:20That's a reasonable assumption.
Nathan Latka
02:21Okay, great. And just to be clear, you're not selling data. All that revenue is coming from a number of paying subscribers paying $3 a month.
Emmanuel Schalit
02:30Exclusively, whether they are individuals or whether they are companies that buy the business version of our product for their employees.
Nathan Latka
02:40I see. So whether the consumer buys it or the person buys it directly on their own credit card or you're selling a team plan, the average seat price still comes out to about $3.
Emmanuel Schalit
02:49$3 on the individual side, more like $4 on the business side.
Nathan Latka
02:54I see.
Emmanuel Schalit
02:55So additional features.
Nathan Latka
02:56I see. So if I divide $3 into 2,000,000 in monthly revenue, you're about hit and what you'd have about 650,000 paying customers, something like that?
Emmanuel Schalit
03:06Directionally correct.
Nathan Latka
03:06Okay.
Emmanuel Schalit
03:06Because it depends on the mix between the two, but you're in the rough ballpark.
Nathan Latka
03:12And one thing that really impressed me, and Emmanuel, I wanna dive deeper on this, last time we came on the show, typically churn is through the roof on companies like this, this low ARPU, high volume, but yours you told me was less than 1% gross logo churn per month. Is that still accurate today and how have you gotten so low?
Churn, Retention and Net Revenue Retention
Emmanuel Schalit
03:30No, it's actually significantly lower. What's probably unique
Nathan Latka
03:37Well, Emmanuel, how the hell do you go significantly lower than 1% in gross logo churn per month?
Emmanuel Schalit
03:41Well, because you look at it annually and depending on the cohorts I look at, for some cohorts, we have annual churn that is in the 0.3, 0.4%. That's how you go lower. But in reality, our net churn is actually negative. Let me explain why because, that's not coming from any upsell. That's coming from the fact that we are in a business where there is a very long tail of conversion. To give you an example, we have
04:10people today that started using Dashlane in 2013 that have used the free version for the last five years. And because of GDPR, because of Facebook and Cambridge Analytica, say, you know what? I got to get serious about this. I'm I'm gonna get the paid version. And so we add more people to our premium subscriber cohorts every month or every year, then we lose with churn. We effectively have net negative churn.
Nathan Latka
04:36Let me ask that differently. It's a little easier to understand. Annually, what is net revenue retention? How far over a 100?
Emmanuel Schalit
04:44You could think about a 105.
Nathan Latka
04:46Okay. That's pretty healthy at this kind of volume. So good. A 105% annually. And have you have you made any additional tweaks? I mean, you have a huge user base, 10,000,000 people, you know, converting 500, six hundred, seven hundred thousand to paid is obviously a healthy rate, but if you can add or eke out an additional percentage point, it's huge for your business. Are there any tests or levers you're pulling to try and do that?
Engagement Levers and Conversion Tactics
Emmanuel Schalit
05:08Constantly, but our focus,
05:12and it's going to be more and more the case, is on engagement rather than revenue. We see revenue as a direct consequence of engagement. Another way to think about that is the ratio between, let's say, for instance, monthly active users and paying subscribers is one of the most stable metrics in our business. And so our focus is how can we get more engagement because we know by product of that is an increase in retention and in
05:39revenue.
Nathan Latka
05:40You, because you have a huge cohort, you probably know the one or two things you've got to get a new sign up to do in the first two hours to make sure they're sticky. What are one or two of those things?
Emmanuel Schalit
05:51The two clearest indicator of future engagements are, you know, people that have added 10 or more passwords in their app very soon. And even more so people that have installed Dashlane on two devices, your phone, your laptop. The moment you've done that, the likelihood that you stay for a very long time and that you end up becoming a premium subscriber is very, very high.
Nathan Latka
06:16Let's talk about the first. How do you drive and make sure, like, what do you do on the interface or how do you drive 10 passwords out in the first five hours?
Emmanuel Schalit
06:24Well, one great example of a feature you talked about things we released, we released in Q1 is a feature that's aimed at mobile first users, which are today the majority. Today, we now advertise on national TV in The US, which means a lot of people hear about us on their couch. They take their phone, they go to the app store, they download Dashlane. And what we've added is an experience where when start your journey with Dashlane,
06:51we just ask you to connect Dashlane to your inbox, to your mailbox, to your Gmail account, to your Hotmail account. And we scan that directly on your phone, purely client-based, and we identify because of the emails you've received, all of the accounts you have. We can tell you which one are at risk, which ones may have been breached, and we allow you to import those accounts directly in Dashlane. That's one of the ways you drive
07:16more engagement with minimal efforts from the user.
Nathan Latka
07:19Does someone actually have to sit on their phone and let's say you say, hey, Nathan, I've identified that you have a 100 applications with passwords. Start verifying them on the mobile app and I click, you know, FreshBooks and I have to manually type in my phone for each one that password, or is there any way you can port them from online? So
Emmanuel Schalit
07:37great question. There are two things we can do. The first one is that, and that's actually a driver we use a lot. We tell people, if you now connect Dashlane app on your phone to your desktop, we'll be able to import all those passwords from your browser.
Nathan Latka
07:53Because no one wants to type in all that, No, that's the biggest point.
Emmanuel Schalit
07:56Exactly. So that's one of the ways we drive that engagement is to tell them now you can go get these passwords because they sit in your browser. And actually, it's a good opportunity to remove them from that browser where they're not secured.
Nathan Latka
08:08Interesting. Each month, how many new users are you adding? Free users total.
New User Growth and Paid Acquisition Spend
Emmanuel Schalit
08:15Think about a quarter million
Nathan Latka
08:18Okay, and what percentage of those are coming from mobile first versus desktop installs?
Emmanuel Schalit
08:24Today, think about
08:27fifty-fifty.
Nathan Latka
08:28Okay, that's pretty healthy. And how aggressive are you being in terms of like, you know, TV promotions, direct paid spend?
Emmanuel Schalit
08:34Well, more and more, because the challenge we have to address is very simple. Today, the vast majority of individuals know about the problem, the pain points related to digital identity, but they don't even know that there are solutions.
Nathan Latka
08:34Yeah.
Emmanuel Schalit
08:34People, our biggest competition is do nothing, or it's an Excel file or an Evernote note, which is a terrible idea. Most people don't know that there is a solution. That is why as the leader in this market,
09:04we have to invest more and more aggressively to educate consumers, to educate businesses about the fact that there is actually a solution.
Nathan Latka
09:11That makes good sense. I mean, tell me what more is though. Mean, are you talking like you're spending 1,000,000 a month, 5,000,000 a month? How aggressive are you being on direct paid monthly?
Emmanuel Schalit
09:20Today you can think of us as spending, we are below million a month, but that number is quickly growing.
Nathan Latka
09:28Got it. North of 500K a month?
Emmanuel Schalit
09:32Absolutely, yes.
Nathan Latka
09:32Okay.
Emmanuel Schalit
09:32It's closer to a million than 500K.
Nathan Latka
09:37Okay, and you've raised capital. How much have you raised?
Equity Raised and Debt Financing Strategy
Emmanuel Schalit
09:40So we have raised
09:46two types of capital. We have raised equity in the past. We did three rounds of equity for a total of 54,000,000.
09:56But we have a business now where essentially
10:03the use of capital is largely user acquisition. And because of the incredible retention characteristics we have, because of the high predictability of our cash flows, we are actually able to fund the business with debt, which is much more attractive from a cost of capital standpoint, from a dilution standpoint. So I won't go into the details, but today we have the ability to raise significant amounts of debt to accelerate our growth because that capital mostly goes towards
10:31user acquisition and we have very short payback times.
Nathan Latka
10:35How short?
Emmanuel Schalit
10:38Significantly less than a year.
Nathan Latka
10:39Okay. Got it. Less than six months or no?
Emmanuel Schalit
10:43It depends on the months.
Nathan Latka
10:45I see, I see. Okay. So you'll let it fluctuate, but right now it's currently less than twelve months and you won't go above twelve months ever in any cohort?
Emmanuel Schalit
10:53No, we're trying to stay below 12 because then that increases our ability to be capital efficient.
Nathan Latka
11:00That's right. Talking about capital efficiency, if you spend 1,000,000 a month on direct paid stuff and you're adding a quarter of a million folks, right? In terms of free users, that's about $4 per free user. And you mentioned earlier, you have about almost 10,000,000 users. You've converted 600, 700,000 of them into paid. So 7% conversion rate, it means you need what? Was that you need about 13 leads to get one new paid customer over some period
11:21of time. So can I multiply that $4 for a free lead times the 13 to back into your CAC?
Emmanuel Schalit
11:28You can, but you're ignoring and you don't have a choice, but you're ignoring what I said about this very long tail of conversion. Like if you take it into account, in reality, it ends up being lower.
Nathan Latka
11:43Interesting. Yeah. So what is CAC today? Are we talking like $30, $20?
Emmanuel Schalit
11:48For a paid customer?
11:53No, I won't get into that. Sorry.
Nathan Latka
11:56Okay. Yeah. Well, I can do this. Worst case, it's 52 based off what the number you just gave. But what you're saying is there's other things I don't know about. It's actually a little less, it's significantly less than that.
Emmanuel Schalit
12:06Yes. And there are synergies between the B2B side of our business and the B2C side of our business, which means that whenever we generate individual users, they end up working somewhere and that's somewhere they tell that company to. And so the value of those relationships and this engagement we're creating is actually much higher than just thinking about the CAC and the first year. And again, when you have very, very high retention, when you're in the low
12:36single digit annual churn, those lifetime values are extremely long. In fact, we don't know where they end. And so, you you're creating a true asset.
Team Size, Sales Team, Land-and-Expand and Debt Terms
Nathan Latka
12:46Yep, I wanna dive more into kind of the land and expand kind of synergy you just articulated. I think a good place to start is on Teams. So last time you were on seven months ago, you had about 130 folks on the team. What are you at today?
Emmanuel Schalit
12:59All in, I think it's closer because that 130 includes both employees and people that are working exclusively for Dashlane on functions like user support, QA that are not employees, but that are effectively members of our team. If I include all of that today, I think we are north, we've grown by about 25, but our growth is now accelerating because we've raised a new capital. And so that all in number could be pretty close to 180 to
13:36200 by the end of the year.
Nathan Latka
13:36And how
13:37many of them are sales folks or onboarding?
Emmanuel Schalit
13:44The bulk of our business is actually happening in a self serve way, whether it's consumer or whether it's with small businesses. We have a small focused sales team that deals with bigger accounts.
Nathan Latka
13:59How many though? That's what I'm curious about.
Emmanuel Schalit
14:01It's really small today.
Nathan Latka
14:03Like two people?
Emmanuel Schalit
14:04Two AEs and one CSM.
Nathan Latka
14:06Got it. Yeah. Because that's what you get into the land and expand, right? You see 250,000 new logos starting using every day. If you see it at uber.com sign up, you're gonna put one of your inside sales reps on there because you know that you could expand it to 3,000 seats pretty quick.
Emmanuel Schalit
14:20That's certainly one way to approach it. I think we are also trying to push more and more the fact that employees are going to do that work for us by pushing more and more collaborative features so that actually at some point it's that company calling us saying, wow, I now have a third of my staff using Dashlane. I want to get that in a more centralized fashion with more control. Can I get and I want to
14:49pay for it in one subscription rather than having 30 people expensing it?
Nathan Latka
14:55Debt is getting actually more and more popular for a variety of reasons. Walk me through the kind of model you decide to go with. Did you go with the traditional kind of interest rate approach over kind of a four year period or did you do something that's a percentage of monthly revenue and that's what it's the paybacks tied to?
Emmanuel Schalit
15:11No, and here I can't go into details, but let's say that
15:17in our case, we were able to negotiate really attractive terms because of the nature of our cash flow and that none of what we have agreed to is
15:29tied in a hard way to revenues or covenants or anything. I
15:36think our business was sufficiently attractive that we didn't have get there.
Nathan Latka
15:41And can you, you obviously did some research on debt options before you decided to do the deal with whoever you did the deal with. What are some options like actual names, some names, you know, SaaS Capital, Lighter Capital out there, Silicon Valley Bank, ScaleWorks, there's a lot of recurring capital. There's a lot of kind of debt financing companies. Are there any that you want people to make sure they take a look at if they think
16:00about this?
Emmanuel Schalit
16:03No, I don't think I've done enough detailed research myself. I talked to the top firms we were engaging with. One of them we retained, other ones we didn't, but I
Nathan Latka
16:17Name a few of the top ones though.
16:21Don't say who you worked with, but name a few that you've talked to.
Emmanuel Schalit
16:25No, I'm not sure at this stage, but I can give you another perspective, which is that I think one thing I heard from many of these firms is that when you get to later stage rounds, you are often constrained by things like minimum check size, which then force you to either accept a lot of dilution or a very high valuation that may turn against you if the markets go in the other direction. In our case, we
16:51needed capital, but we didn't need an extremely high amount. And I felt it was bad for the company to take more than we needed. That's why debt was very attractive. There's no notion of minimum check size. There's very little, if any dilution, and there is no forcing mechanism on the valuation that ends up being artificial and turning against you.
Nathan Latka
17:12Yep.
Emmanuel Schalit
17:13Now, you need to have the unit economics to attract that debt, but today we're fortunate that we do.
M&A and LastPass Merger Question
Nathan Latka
17:19Yep. Look, you're approaching $24,000,000 in ARR. You've raised 55,000,000 in equity. You have some debt on top of that. I mean, when are you gonna go sell this thing for, you know, $500,000,000 and go start figuring out how to go to Mars?
Emmanuel Schalit
17:32Well, given the cost of going to Mars, my target is closer to 2,000,000,000 than 500,000,000.
17:37So I need a bit more time.
17:39But look, right now, we see our business accelerating more than we anticipated. We see macro trends around what happened with GDPR, what's happened with Facebook and Cambridge Analytica, furthering that acceleration. We have no interest in selling. Of course, if somebody knocks on our door with an offer, we will look at it very seriously, especially if it's an offer that can help us accelerate our growth. But we are very, very focused on the acceleration of our business
18:13right now because we are carried by macro trends that are extremely favorable.
Nathan Latka
18:17Would you and LastPass ever merge?
Emmanuel Schalit
18:20Well, LastPass was sold to a company called LogMeIn two years ago now.
Nathan Latka
18:24Yeah, sorry, said differently. Is
18:27that a good home for you? If LogMeIn came to you so you could essentially merge with LastPass? Would that be interesting or no?
Emmanuel Schalit
18:34I'm not necessarily sure because I don't think our strategies are as aligned. LogMeIn is fundamentally focused on the B2B market, which is not a bad thing in and of itself. But we approach digital identity with a different lens, which is it's not B2B, it's not B2C, it's B2H, business to human. We are focused on the end user, whether he's at home and at work. And let's say the approach to the individual, the mass market approach we
19:05have is probably not at its best home in a company that is purely focused on B2B. Of course.
Nathan Latka
19:13No. Go ahead.
Emmanuel Schalit
19:15No. No. That's that's that's all.
Famous Five Rapid Fire
Nathan Latka
19:16Okay. Good. On that note, Emmanuel, let's wrap up here with the famous five. Number one, what's your favorite business book?
Emmanuel Schalit
19:23The last one was, Where is Everybody? Which is a book about why the Fermi Paradox, hasn't been resolved, why have not we found aliens? It doesn't sound like a business book, but if you read about it the right way, is.
Nathan Latka
19:36Number two, is there a CEO you're following or studying?
Emmanuel Schalit
19:40The guy who is gonna put a million people on Mars, Elon Musk.
Nathan Latka
19:44Number three, what's your favorite online tool for building the business?
Emmanuel Schalit
19:49It's gonna be Atlassian suite of tools. Our business is effectively built on it.
Nathan Latka
19:55Number four, how many hours of sleep do get every night?
Emmanuel Schalit
19:58I'm trying to be religious about seven and religious about always going to bed at the same hour, even on weekends.
Nathan Latka
20:04And what hour is that?
Emmanuel Schalit
20:07It's going to bed at ten and waking up at five every day of the week in the year.
Nathan Latka
20:12That's pretty good.
20:13And what's your situation? Married, single, yet close?
Emmanuel Schalit
20:15Married, two kids, an 8.5 year old boy and a 1.5 year old daughter.
Nathan Latka
20:19Oh, great. Congratulations, young ones. And how old are you?
Emmanuel Schalit
20:23I am 54, not for very long though.
Nathan Latka
20:26Okay. That's good. Well, happy early birthday, Emmanuel. Last question. What do you wish your 20 year old self knew?
Emmanuel Schalit
20:34Nothing more than I knew because then where would the fun be?
Nathan Latka
20:38Guys, I already have it. He wishes he knew nothing more than what he already knew. He's really enjoying the journey, having a lot of fun, likes thinking about Mars, decided to go do something more practical in the short term. We're gonna have a bigger impact, and that is passwords and password management. Really, you know, the macro trend of cybersecurity in general. 2012, the company was launched. They've now passed or they're about to hit 10,000,000 total users
20:57on... They're adding about 250,000 new users to the platform every single month, about fifty fifty installing mobile first versus desktop. They've converted significant portion portion of those call it between 5 and 8% to actual paying customers about to cross $2,000,000 in monthly recurring revenue or $24,000,000 in ARR. A 105% net revenue retention annually, again, with their team of about a 180 people based all around the country. Super healthy payback period to less than twelve months. Emmanuel, thank you for
21:23taking us to the top.
Emmanuel Schalit
21:25Thank you.